New data published by the ECB indicate that negotiated wage growth in the euro area is set to slow and gradually normalise in 2026, following elevated pressures in recent years. According to the ECB wage tracker, which covers active collective bargaining agreements, wage growth including smoothed one-off payments is estimated at 3.2% in 2025 and […]
In a speech delivered in Rome, ECB Executive Board member Piero Cipollone argued that rapid technological change is transforming money and payments, making it essential for central banks to modernise central bank money. He warned that without action, Europe risks fragmentation, weaker monetary sovereignty and growing dependence on non-European payment providers and dollar-based stablecoins.
In October 2025, the euro area recorded a €26 billion current account surplus, up slightly from €24 billion in September, mainly supported by strong surpluses in goods and services, according to ECB data. Over the 12 months to October, however, the surplus fell to €313 billion (2.0% of GDP), down from €419 billion a year […]
The ECB’s Governing Council decided on 18 December 2025 to leave its three key interest rates unchanged, reaffirming that inflation is expected to stabilise around the 2% target in the medium term. According to updated Eurosystem projections, headline inflation is forecast to average 2.1% in 2025 and fall below 2% in the following years before […]
The birth of the child Jesus brings hope to nations, shows the poor the power to rise again, and brings goodness in the face of violence and oppression, Pope Leo XIV said in his homily, celebrating his first Christmas Mass at St. Peter’s Basilica on Christmas Eve.
Pope Leo XIV will celebrate the Christmas Eve evening Mass for the first time on December 24. Compared to his predecessors, Pope Leo XIV will begin the ceremony at a later hour in St. Peter’s Basilica, where prayers will also be offered in Tagalog and Igbo for the first time.
On 15 December 2025, the European Chemicals Agency (ECHA) published its annual report on exports and imports of chemicals banned or severely restricted in the EU under the Prior Informed Consent (PIC) Regulation.
On 15 December 2025, the European Banking Authority (EBA) and the European Central Bank (ECB) published their 2025 joint report on payment fraud, covering data from 2022 to 2024.
On 17 December 2025, the European Central Bank (ECB) Governing Council proposed extending the term of ECB Executive Board member Frank Elderson as Vice-Chair of the ECB’s Supervisory Board. The extension is permitted under ECB rules but cannot exceed the end of his eight-year mandate on the Executive Board.
On 12 December 2025, the European Central Bank (ECB) announced it will carry out a reverse stress test in 2026 for 110 directly supervised banks to evaluate their ability to manage geopolitical risks. Unlike standard stress tests, the reverse stress test prescribes a pre-determined outcome—here, a minimum 300-basis point depletion in Common Equity Tier 1 […]
